First Eagle Investment Management LLC Has $7.62 Million Holdings in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB)

First Eagle Investment Management LLC raised its stake in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) by 2.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,006,937 shares of the restaurant operator’s stock after buying an additional 20,100 shares during the quarter. First Eagle Investment Management LLC owned 0.06% of Red Robin Gourmet Burgers worth $7,623,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of RRGB. Headlands Technologies LLC acquired a new position in Red Robin Gourmet Burgers during the first quarter valued at approximately $25,000. PNC Financial Services Group Inc. raised its holdings in Red Robin Gourmet Burgers by 57.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,791 shares of the restaurant operator’s stock worth $85,000 after purchasing an additional 2,491 shares during the period. Virtu Financial LLC bought a new position in shares of Red Robin Gourmet Burgers during the first quarter worth $149,000. Quadrature Capital Ltd acquired a new position in shares of Red Robin Gourmet Burgers in the 1st quarter valued at $166,000. Finally, BNP Paribas Financial Markets increased its position in shares of Red Robin Gourmet Burgers by 48.0% in the 1st quarter. BNP Paribas Financial Markets now owns 37,259 shares of the restaurant operator’s stock valued at $285,000 after buying an additional 12,082 shares in the last quarter. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Red Robin Gourmet Burgers Trading Up 6.2 %

RRGB stock opened at $3.94 on Friday. The stock has a 50-day moving average price of $4.69 and a two-hundred day moving average price of $6.28. Red Robin Gourmet Burgers, Inc. has a 1 year low of $2.97 and a 1 year high of $12.80.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last posted its quarterly earnings data on Thursday, August 22nd. The restaurant operator reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.07). The company had revenue of $300.15 million during the quarter, compared to analyst estimates of $295.57 million. During the same period in the previous year, the firm posted ($0.24) EPS. As a group, equities research analysts forecast that Red Robin Gourmet Burgers, Inc. will post -2.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on RRGB. Benchmark reduced their target price on Red Robin Gourmet Burgers from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th. Lake Street Capital decreased their price objective on Red Robin Gourmet Burgers from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Finally, Craig Hallum dropped their target price on shares of Red Robin Gourmet Burgers from $15.00 to $11.50 and set a “buy” rating on the stock in a report on Friday, August 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $13.13.

Red Robin Gourmet Burgers Company Profile

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, develops, operates, and franchises casual-dining restaurants, in North America and one Canadian province. Its restaurants primarily offer burgers and pizza, appetizers, salads, soups, other entrees, desserts, wings, milkshakes, alcoholic and non-alcoholic specialty drinks, cocktails, wine, and beers.